Loose Leaf for Fundamental Accounting Principles
Loose Leaf for Fundamental Accounting Principles
23rd Edition
ISBN: 9781259687709
Author: John J Wild, Ken Shaw Accounting Professor, Barbara Chiappetta Fundamental Accounting Principles
Publisher: McGraw-Hill Education
Question
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Chapter 9, Problem 3DQ
To determine

Materiality:

It is a frequently used concept in accounting; it is basically related with the significance of an amount or transaction. This concept gives the freedom to make changes is another accounting principle if the amount is so small that the financial statement reader will not be misled.

To determine: The accounting constraint of materiality.

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